Give Mortgage To Thai For Buying Land

[AlexHolland]

Hello. Does anybody know if it's possible for a farang to give a mortgage to a thai so that the thai can buy land.

It have to be a legal document.

[caf]

No.

It is expressly disallowed

It stops farang "buying " land in a thai's name but creating a loan payable from the thai to cover the purchase cost

caf

[AlexHolland]

No.

It is expressly disallowed

It stops farang "buying " land in a thai's name but creating a loan payable from the thai to cover the purchase cost

caf

[eljeque]

Yes, very easy. Lots of foreigners do it all of the time at the land office here in Pattya.

You will need your passport, copies, visa, copies, etc.

If you lend at 12% / year, and you lend 1,000 baht, you will write the loan for 1,120 baht. The legal interest is supposedly 15% for your information.

You shuld also have a separate legal document stating the borrower borrowed 1,120 baht, and that if in one year's time (or whatever time limit you are imposig) does not pay back the principal and interest, then the lender or his agent has the right to sell the property at the land office price or above (land office price is usually at leat 20% below quick sale price).

YOU WILL ALSO NEED A LAND OFFICE POWER OF ATTORNEY FORM, GET TWO OF THEM, AND ALSO ID COPIES OF THE BORROWER AND TABIEN COPIES, SIGNED.

you can PM me for more info